Mr. Louis Tonelli reports

MAGNA ANNOUNCES SENIOR NOTES OFFERINGS

Magna International Inc. has entered into underwriting agreements in respect of the offering of one series of euro-denominated senior notes and one series of U.S.-dollar-denominated senior notes, as detailed in the attached table.

Magna intends to use the net proceeds from the offerings of the euro senior notes and the U.S.-dollar senior notes for general corporate purposes, which may include the repayment of its existing indebtedness.

The offering of euro senior notes is expected to close on May 21, 2025, and the offering of U.S.-dollar senior notes is expected to close on May 22, 2025, in each case, subject to customary closing conditions. The euro senior notes and U.S.-dollar senior notes will each be offered pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC), and a short form base shelf prospectus and prospectus supplements filed with the Ontario Securities Commission.

BNP Paribas, BofA Securities, Citigroup, Commerzbank and ING are acting as joint bookrunning managers for the offering of euro senior notes, and BofA Securities, Citigroup, J.P. Morgan, BNP Paribas, RBC Capital Markets, Bank of Nova Scotia, TD Securities and Wells Fargo Securities are acting as joint bookrunning managers for the offering of U.S.-dollar senior notes.

The offering of each of these securities may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplements and the accompanying prospectus can be obtained for free by visiting EDGAR on the SEC's website or from the joint bookrunning managers.

Magna is more than one of the world's largest suppliers in the automotive space. The company is a mobility technology company built to innovate, with a global, entrepreneurial-minded team of approximately 167,000 employees across 342 manufacturing operations and 103 product development, engineering and sales centres spanning 28 countries. With 65-plus years of expertise, the company's ecosystem of interconnected products, combined with its complete vehicle expertise uniquely, positions Magna to advance mobility in an expanded transportation landscape.

We seek Safe Harbor.